Pension and Other Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2018

The net periodic benefit cost (credit) for pension and other postretirement benefit plans consisted of the following components:



	Pension Benefits
	U.S.									International									Other Postretirement Benefits
Years Ended December 31	2018			2017			2016			2018			2017			2016			2018			2017			2016
Service cost	$	326		$	312		$	282		$	238		$	252		$	238		$	57		$	57		$	54
Interest cost	432			454			456			178			172			204			69			81			82
Expected return on plan assets	(851		)	(862		)	(831		)	(431		)	(393		)	(382		)	(83		)	(78		)	(107		)
Amortization of unrecognized prior service cost	(50		)	(53		)	(55		)	(13		)	(11		)	(11		)	(84		)	(98		)	(106		)
Net loss amortization	232			180			119			84			98			87			1			1			3
Termination benefits	19			44			23			2			4			4			3			8			4
Curtailments	10			3			5			1			(4		)	(1		)	(8		)	(31		)	(18		)
Settlements	5			—			—			13			5			6			—			—			—
Net periodic benefit cost (credit)	$	123		$	78		$	(1	)	$	72		$	123		$	145		$	(45	)	$	(60	)	$	(88	)

Obligation and Funded Status

Summarized information about the changes in plan assets and benefit obligations, the funded status and the amounts recorded at December 31 is as follows:



	Pension Benefits												Other Postretirement Benefits
	U.S.						International						Other Postretirement Benefits
	2018			2017			2018			2017			2018			2017
Fair value of plan assets January 1	$	10,896		$	9,766		$	9,339		$	7,794		$	1,114		$	1,019
Actual return on plan assets	(810		)	1,723			(289		)	677			(72		)	161
Company contributions, net	378			58			167			226			6			(4		)
Effects of exchange rate changes	—			—			(352		)	843			—			—
Benefits paid	(772		)	(651		)	(202		)	(198		)	(80		)	(62		)
Settlements	(44		)	—			(106		)	(17		)	—			—
Other	—			—			23			14			—			—
Fair value of plan assets December 31	$	9,648		$	10,896		$	8,580		$	9,339		$	968		$	1,114
Benefit obligation January 1	$	11,904		$	10,849		$	9,483		$	8,372		$	1,922		$	1,922
Service cost	326			312			238			252			57			57
Interest cost	432			454			178			172			69			81
Actuarial (gains) losses ⁽¹⁾	(1,258		)	881			(154		)	(7		)	(341		)	(87		)
Benefits paid	(772		)	(651		)	(202		)	(198		)	(80		)	(62		)
Effects of exchange rate changes	—			—			(387		)	916			(6		)	3
Plan amendments	—			—			10			(22		)	(9		)	—
Curtailments	13			15			(2		)	(3		)	—			—
Termination benefits	19			44			2			4			3			8
Settlements	(44		)	—			(106		)	(17		)	—			—
Other	—			—			23			14			—			—
Benefit obligation December 31	$	10,620		$	11,904		$	9,083		$	9,483		$	1,615		$	1,922
Funded status December 31	$	(972	)	$	(1,008	)	$	(503	)	$	(144	)	$	(647	)	$	(808	)
Recognized as:
Other assets	$	—		$	—		$	659		$	828		$	—		$	—
Accrued and other current liabilities	(47		)	(59		)	(14		)	(17		)	(10		)	(11		)
Other noncurrent liabilities	(925		)	(949		)	(1,148		)	(955		)	(637		)	(797		)

⁽¹⁾ Actuarial (gains) losses in 2018 and 2017 primarily reflect changes in discount rates.

Schedule of Accumulated and Projected Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]

Information related to the funded status of selected pension plans at December 31 is as follows:



	U.S.				International
	2018		2017		2018		2017
Pension plans with a projected benefit obligation in excess of plan assets
Projected benefit obligation	$	10,620	$	11,904	$	6,251	$	3,323
Fair value of plan assets	9,648		10,896		5,089		2,352
Pension plans with an accumulated benefit obligation in excess of plan assets
Accumulated benefit obligation	$	9,702	$	676	$	5,936	$	2,120
Fair value of plan assets	8,966		—		5,071		1,346

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Summary of Changes in Fair Value of Company's Level 3 Pension Plan Assets

The table below provides a summary of the changes in fair value, including transfers in and/or out, of all financial assets measured at fair value using significant unobservable inputs (Level 3) for the Company’s pension plan assets:



	2018												2017
	Insurance Contracts			Real Estate			Other			Total			Insurance Contracts		Real Estate			Other			Total
U.S. Pension Plans
Balance January 1	$	—		$	—		$	15		$	15		$	—	$	—		$	18		$	18
Actual return on plan assets:
Relating to assets still held at December 31	—			—			(3		)	(3		)	—		—			(2		)	(2		)
Relating to assets sold during the year	—			—			4			4			—		—			4			4
Purchases and sales, net	—			—			(3		)	(3		)	—		—			(5		)	(5		)
Balance December 31	$	—		$	—		$	13		$	13		$	—	$	—		$	15		$	15
International Pension Plans
Balance January 1	$	470		$	2		$	1		$	473		$	412	$	4		$	1		$	417
Actual return on plan assets:
Relating to assets still held at December 31	(32		)	—			—			(32		)	52		—			—			52
Purchases and sales, net	380			(1		)	—			379			5		(2		)	—			3
Transfers into Level 3	(7		)	—			—			(7		)	1		—			—			1
Balance December 31	$	811		$	1		$	1		$	813		$	470	$	2		$	1		$	473

Summary of Expected Benefit Payments

Expected benefit payments are as follows:



	U.S. Pension Benefits		International Pension Benefits		Other Postretirement Benefits
2019	$	638	$	225	$	91
2020	661		213		95
2021	680		221		98
2022	685		239		102
2023	709		249		105
2024 — 2028	3,805		1,349		577

Components of Other Comprehensive Income

The following amounts were reflected as components of OCI:



	Pension Plans																		Other Postretirement Benefit Plans
	U.S.									International									Other Postretirement Benefit Plans
Years Ended December 31	2018			2017			2016			2018			2017			2016			2018			2017			2016
Net (loss) gain arising during the period	$	(397	)	$	(19	)	$	(743	)	$	(505	)	$	309		$	(380	)	$	186		$	170		$	(45	)
Prior service (cost) credit arising during the period	(4		)	(13		)	(10		)	(10		)	22			(2		)	2			(31		)	(19		)
	$	(401	)	$	(32	)	$	(753	)	$	(515	)	$	331		$	(382	)	$	188		$	139		$	(64	)
Net loss amortization included in benefit cost	$	232		$	180		$	119		$	84		$	98		$	87		$	1		$	1		$	3
Prior service (credit) cost amortization included in benefit cost	(50		)	(53		)	(55		)	(13		)	(11		)	(11		)	(84		)	(98		)	(106		)
	$	182		$	127		$	64		$	71		$	87		$	76		$	(83	)	$	(97	)	$	(103	)

Summary of Weighted Average Assumptions Used in Determining Pension Plan and U.S. Pension and Other Postretirement Benefit Plan Information

The Company reassesses its benefit plan assumptions on a regular basis. The weighted average assumptions used in determining U.S. pension and other postretirement benefit plan and international pension plan information are as follows:



	U.S. Pension and Other Postretirement Benefit Plans						International Pension Plans
December 31	2018		2017		2016		2018		2017		2016
Net periodic benefit cost
Discount rate	3.70	%	4.30	%	4.70	%	2.10	%	2.20	%	2.80	%
Expected rate of return on plan assets	8.20	%	8.70	%	8.60	%	5.10	%	5.10	%	5.60	%
Salary growth rate	4.30	%	4.30	%	4.30	%	2.90	%	2.90	%	2.90	%
Benefit obligation
Discount rate	4.40	%	3.70	%	4.30	%	2.20	%	2.10	%	2.20	%
Salary growth rate	4.30	%	4.30	%	4.30	%	2.80	%	2.90	%	2.90	%

Summary of Health Care Cost Trend Rate Assumptions for Other Postretirement Benefit Plans

The health care cost trend rate assumptions for other postretirement benefit plans are as follows:



December 31	2018		2017
Health care cost trend rate assumed for next year	7.0	%	7.2	%
Rate to which the cost trend rate is assumed to decline	4.5	%	4.5	%
Year that the trend rate reaches the ultimate trend rate	2032		2032

One Percentage Point Change in Health Care Cost Trend Rate

A one percentage point change in the health care cost trend rate would have had the following effects:



	One Percentage Point
	Increase		Decrease
Effect on total service and interest cost components	$	11	$	(9	)
Effect on benefit obligation	88		(74		)

Pension Benefits

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule of Allocation of Plan Assets [Table Text Block]

The fair values of the Company’s pension plan assets at December 31 by asset category are as follows:



	Fair Value Measurements Using								Fair Value Measurements Using
	Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
	2018								2017
U.S. Pension Plans
Assets
Cash and cash equivalents	$	40	$	—	$	—	$	40	$	6	$	—	$	—	$	6
Investment funds
Developed markets equities	169		—		—		169		390		—		—		390
Emerging markets equities	121		—		—		121		138		—		—		138
Equity securities
Developed markets	2,172		—		—		2,172		2,743		—		—		2,743
Fixed income securities
Government and agency obligations	—		1,509		—		1,509		—		757		—		757
Corporate obligations	—		1,246		—		1,246		—		900		—		900
Mortgage and asset-backed securities	—		262		—		262		—		240		—		240
Other investments	—		—		13		13		—		—		15		15
Net assets in fair value hierarchy	$	2,502	$	3,017	$	13	$	5,532	$	3,277	$	1,897	$	15	$	5,189
Investments measured at NAV ⁽¹⁾							4,116								5,707
Plan assets at fair value							$	9,648							$	10,896
International Pension Plans
Assets
Cash and cash equivalents	$	50	$	3	$	—	$	53	$	54	$	19	$	—	$	73
Investment funds
Developed markets equities	461		3,071		—		3,532		562		3,326		—		3,888
Emerging markets equities	56		112		—		168		62		176		—		238
Government and agency obligations	372		2,082		—		2,454		249		2,095		—		2,344
Corporate obligations	4		7		—		11		5		329		—		334
Fixed income obligations	7		4		—		11		7		4		—		11
Real estate ⁽²⁾	—		1		1		2		—		1		2		3
Equity securities
Developed markets	544		—		—		544		660		—		—		660
Fixed income securities
Government and agency obligations	2		291		—		293		2		266		—		268
Corporate obligations	1		113		—		114		1		118		—		119
Mortgage and asset-backed securities	—		55		—		55		—		55		—		55
Other investments
Insurance contracts ⁽³⁾	—		66		811		877		—		67		470		537
Other	—		4		1		5		—		6		1		7
Net assets in fair value hierarchy	$	1,497	$	5,809	$	813	$	8,119	$	1,602	$	6,462	$	473	$	8,537
Investments measured at NAV ⁽¹⁾							461								802
Plan assets at fair value							$	8,580							$	9,339


⁽¹⁾	Certain investments that were measured at net asset value (NAV) per share or its equivalent as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the fair value of plan assets at December 31, 2018 and 2017.


⁽²⁾	The plans’ Level 3 investments in real estate funds are generally valued by market appraisals of the underlying investments in the funds.


⁽³⁾	The plans’ Level 3 investments in insurance contracts are generally valued using a crediting rate that approximates market returns and invest in underlying securities whose market values are unobservable and determined using pricing models, discounted cash flow methodologies, or similar techniques.